AMC Entertainment (AMC) Had ~502M Shares Outstanding as of June 2
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Fulfilling a commitment to release share count data, AMC Entertainment Holdings, Inc. (NYSE: AMC) is today providing the following information:
- There were 501,780,240 AMC shares outstanding as of June 2, 2021, the record date for the Shareholder Meeting that is scheduled for July 29, 2021.
- Only the holders of these shares whose trades have settled as of June 2, 2021 are entitled to vote at the Shareholder Meeting. Trading or other transactions relating to the shares, such as share borrowing, derivatives (including options contracts) or short selling, do not impact the number of shares entitled to vote at the Shareholder Meeting.
- Advance voting for the Annual Shareholder meeting is expected to begin on June 16 and will continue through July 28. The details of proposals up for a vote and procedures for voting will be available in AMC’s proxy statement, a preliminary version of which is being filed today, with the definitive proxy statement expected to be filed on June 16. Shortly thereafter, the proxy and voting materials will be mailed or emailed to individual investors known to AMC, and to brokerage firms holding shares on behalf of investors in street name. Such investors are encouraged to reach out to their brokers in the latter part of June or early in July if proxy materials have not yet been forwarded to them by their brokers.
- The share count presented above includes those shares held by both domestic and international investors. AMC has been informed that certain international brokerage houses may restrict international investors’ ability to cast their votes. Affected international investors may wish to seek out other brokers who do facilitate shareholder voting for future elections.
- AMC expects to receive an approximate count of the number of individual shareholders whose trades have settled as of June 2 and will release this information as soon as it is available, which is currently anticipated to be no later than June 9.
- The Company does not record or have access to information regarding any share lending or short selling transactions other than what is publicly available from third party providers.
- AMC has received a number of inquiries regarding so-called synthetic shares and fake shares. AMC has no reliable information about this, therefore we can make no comment in this regard. AMC only maintains records regarding the shares it has legally issued and which are outstanding.
- The Company has received a number of inquiries regarding speculation about a potential split or reverse split of our stock. A stock split or reverse stock split is not a capital raising transaction and therefore does not achieve the aims of bolstering our liquidity or providing proceeds for other transactions. AMC has no plans to propose or take any actions regarding a stock split or reverse stock split, and in any event such actions would require shareholder approval.
- AMC understands that there is considerable trading in derivatives on the Company’s stock including both put and call options. These derivative securities can have the effect of increasing the volatility of AMC’s share price, and while they can be structured to replicate the economics of owning or short selling real AMC shares, they carry no voting rights.
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